First credit card for a college student?

[Mixolydian]

Amex. You have no choice but to pay the balance off.

If you have a charge card. Amex also has credit cards that let's you carry a balance.

 

[JTsyo]

In other words, the banks did not like that you did not stay indebted to them.

Debt is nothing more then financial servitude.

Maybe that but a car load has collateral, so it's less risky. A personal loan you can only go on by the person's credit rating.

One annoying thing about trying to get a first card is that you try a few and get denied then you finally get one. Six months later or so all the ones that denied you start sending you offers and filling you mail with junk.

 

[skimple]

Amex. You have no choice but to pay the balance off.

Amex Charge Card. Had one since I was a sophomore in college (over 20 years). I've churned through well over a dozen other cards and banks since then, but Amex has been the constant.

You have to pay it off. Forces budgeting and planning.

 

[waggy]

Maybe that but a car load has collateral, so it's less risky. A personal loan you can only go on by the person's credit rating.

One annoying thing about trying to get a first card is that you try a few and get denied then you finally get one. Six months later or so all the ones that denied you start sending you offers and filling you mail with junk.

yeap. my Credit rating is good. the bank also wanted a history of revolving credit.

i have had a bunch of house loans, car loans, business loans etc. Paid them all and except for the house i have paid all off early (trying to pay it off early though).

it was my first personal loan and a eye opener.

this is why is schools really need to teach finances and credit in school. I didn't understand that secured credit was different from a personal loan and the need to establish credit history.

 

[makken]

yeap. my Credit rating is good. the bank also wanted a history of revolving credit.

i have had a bunch of house loans, car loans, business loans etc. Paid them all and except for the house i have paid all off early (trying to pay it off early though).

it was my first personal loan and a eye opener.

this is why is schools really need to teach finances and credit in school. I didn't understand that secured credit was different from a personal loan and the need to establish credit history.

My econ teacher back in highschool did spend a few days going over credit; we never really went over how to manage finances, but he definitely drilled the importance of a good credit history into our heads.

 

[slayernine]

Don't get a credit card until you have a solid job. Save yourself from the potential debt that follows people who have credit cards and little to no income.

 

[makken]

Don't get a credit card until you have a solid job. Save yourself from the potential debt that follows people who have credit cards and little to no income.

As long as he can manage his finances such that he can pay it off every month, there is no reason he shouldn't get a credit card.

I got a credit card with a $500 limit and a horrendous Apr while I was dirt poor with no income in school. 7 years later when I got my first real job, I had 2 10k limit cards with great rewards and a great credit history.

 

[superccs]

My first card in college was a Discover student card.

$1000 limit, not sure what the interest rates were because I always paid it off (used it like a debit card)

Discovercard is the least rape in your situation...